Netflix is in talks to make an untitled film about the battle between hedge funders and Reddit-fueled day traders that sent shares of GameStop soaring 135% on a single day.
Oscar-winning screenwriter Mark Boal – of The Hurt Locker and Zero Dark Thirty fame – is in negotiations to write. Goofy Netflix goldenboy Noah Centineo will be attached to play a major role. Centineo, of course, starred in the Netflix films To All The Boys I’ve Loved Before, and Sierra Burgess Is a Loser, and has completed the Jackie Chan-directed The Diary and will play Atom Smasher opposite Dwayne Johnson in the Jaume Collet-Serra-directed Black Adam.
Sources say the intention of the movie is to use the GameStop episode as a specific way to shine a light on the phenomenon of how social media has leveled the playing field and allowed the masses to challenge status quo gatekeepers, for good and bad. The examples range from the stock spike for GameStop, AMC and other formerly lagging stocks that are subject to the short-selling maneuvers of billion-dollar hedge funds, to the social media spread of unfounded election rigging charges conveyed by conservative social media sites and Trump Tweets that fired up right wing extremists to storm the Capitol while President Biden’s election was being certified, leading to the death of five people.
The ripples of the Reddit rebellion has struck at the core of some hedge funds in a way that is reminiscent of the greed-fueled subprime mortgage bundling that caused the 2008 financial collapse, captured in the Oscar-winning The Big Short, which New Regency co-financed while Weston ran that production company. That film will certainly be a model for the GameStop dissection, and sources said there are several potential rival projects mobilizing to tell the story.
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